I've noted this previously in my research report (21-March, see related), but we may be seeing a failed head an shoulder technical formation unfold, which could lead to higher prices.
Since the company's trading update, the the price action has improved, with the first minor trend line extending back to 23 March having been breached.
The big level is R570, which will also be a breach of the 50-week EMA.
This is more of an equity portfolio idea than a short term trading one. Currently trading at R558, but if it weakens to be R530 then i''ll consider it temporary failure.
Since the company's trading update, the the price action has improved, with the first minor trend line extending back to 23 March having been breached.
The big level is R570, which will also be a breach of the 50-week EMA.
This is more of an equity portfolio idea than a short term trading one. Currently trading at R558, but if it weakens to be R530 then i''ll consider it temporary failure.
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